2009 Alabama Code
Title 10 — CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS.
Chapter 2A — BUSINESS CORPORATIONS.
Section 10-2A-302 Formation of a close corporation.
Section 10-2A-302Formation of a close corporation.
A close corporation shall be formed in accordance with Sections 10-2A-90 through 10-2A-96, except that such formation must be authorized by the affirmative vote of all holders of and subscribers to shares of the corporation, and:
(1) The articles of incorporation shall contain a heading stating the name of the corporation and that it is a close corporation; and
(2) The articles of incorporation shall contain the provisions required by Section 10-2A-301; and
(3) Each certificate for shares shall conspicuously note the fact that the corporation is a close corporation and make reference to the restriction on transfer of shares set forth in the articles of incorporation.
(Acts 1980, No. 80-633, p. 1094, §163.)Disclaimer: These codes may not be the most recent version. Alabama may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
